Digital Currency Update
Reliance Retail, India’s largest retailer, is participating in the Reserve Bank of India’s CBDC pilot. The company has partnered with ICICI Bank, Kotak Mahindra Bank and Innoviti to accept digital rupees at the point of sale.
Region: Europe
Palm Vein Biometrics from Ingenico and Fujitsu
Among biometric modalities used to authenticate payments in a merchant’s checkout lane, including fingerprints, facial scans and iris scans, palm vein identification has notable advantages. Not only is every person’s pattern of veins unique, but the existing technology available to read veins in the human palm is more accurate than with any of the other methods.
Amex Acquires Nipendo for B2B Accounts Receivable Payments
Commercial payments account for 45% of total billed business at American Express, and more than 70% of those payments are business to business (B2B)—mostly driven by small businesses.
Investments in Merchant Acquiring, Processing—2022
The tables shown here list 123 investments (seed, venture, strategic, private equity and debt funding) in 37 countries in the merchant acquiring and processing sector of the payment card industry in 2022.
Investments & Acquisitions in 2022
There were 700 transactions in card payments and related fields in 2022. There were 382 transactions in the first half of the year and 318 in the second half. Those deals occurred in 68 countries.
Wallet Hub from ACI Worldwide
Digital wallets in more than six dozen countries worldwide are used by consumers to make payments to merchants in-store, online and in mobile apps.
Worldwide for First Nine Months of 2022
Mastercard and Visa credit, debit and prepaid cards in circulation worldwide generated $13.486 trillion in purchase volume for the first nine months of 2022, an increase of 14.9% versus the first nine months of 2021. Of the Mastercard and Visa worldwide total, purchase volume tied to cards issued outside the US accounted for 54.71%, up from 54.02% in 2021.
Payment Cards Projected Worldwide
Credit, debit and prepaid general purpose and private label payment cards in circulation worldwide are projected to reach 28.44 billion by December 31, 2027. This is up from 25.84 billion at the end of 2022.
Ellipse Dynamic CVV Module
The EVC All-in-One module from Ellipse provides a display screen and microcontroller that can be integrated into the existing card manufacturing process to provide dynamic security code numbers that better protect against ecommerce fraud, including false declines. No battery is required.
J.P. Morgan’s Merchant Acquiring Global Expansion
Among merchant acquirers with global footprints, J.P. Morgan Payments (JPMP) stands out for the scale of its business, including the ability to provide customers with all payment processing and related products and services required, while handling all financial settlement including foreign exchange without the need of a partner.
